Descente’s central executive committee refused the tender offer from Itochu’s BS Investment Corporation, claiming the bid threatened the progress it has made building its brands and its relationships with its customers and labor union. Descente thinks that Itochu would focus on maximizing short-term profits, overturning its current strategy of taking a medium- to long-term perspective on growing the multi-brand apparel company. Last month, Itochu, ... Log in to view full article.